Shortage of stamps to end

Bhopal, August 27, 2015 (Abdul Ahad Farhan): Finance & Commercial Taxes Minister Mr. Jayant Malaiya launched e-Stamping to be done by service providers for non-registrable documents here today. Now service providers will print and issue e-Stamps for such documents now. Inspector General Registration Mrs. Deepali Rastogi were also present. Mr. Malaiya said that computerization has brought unprecedented improvement in departmental functioning and revenue collection. Works of all 3 wings of the department includiong Commercial Taxes, Excise and Registration has become more efficient and smooth. Madhya Pradesh has become first state in the country to start e-registration and e-stamping. Due to misunderstanding in the early stage, e-registration drew some criticism and adverse publicity, but now people have started lauding it.

He suggested for e-registration of old registries and facility of e-locker. Principal Secretary Mr. Manoj Shrivastava lauded media for alleying misconceptions about e-registration system. Services providers also did well by working without being influenced by adverse publicity.Further improvements will be made in the system as and when needed. Under the e-stamping system launched today, service providers will be given 1.5 percent commission on documents e-stamped by them. They can also charge Rs.5 per transaction service fee from stamp purchasers. For generating e-stamp, service provider should write details of stamp purchaser on a page including name, address and purpose of buying stamp.

Brief account of the document for which it is being purchased will also be mentioned. After making desired entries and writing brief introduction of document, service provider will receive an OTP on his mobile. On entering his digital signature, the service provider will get e-stamp’s print to be given to concerning party. It would be mandatory for service providers to get their digital signature prepared through authorized agency and keep if safe. Service providers will register their digital signatures on their respective log-in. Only after it, e-stamp can be generated.